Activity day:2016-12-13 Published At：2016-12-13 Views:2351 2017-02-12 updated
To address to the trend development, NTU EMBA’s Entrepreneur Practice Program, offered since 2015 with the concept of incubator, allows students to propose innovative business models, which may be jointly brought into reality by the faculty and mentors of the College of Management. At the end of 2016 comes a good news: LendBand, the first incubated innovation company, is now operational. Its core concept is giving innovative entrepreneurs a pivot point. LendBand is an online finance platform (Fintech-P2P) that brings together borrowers and financiers to embrace more possibilities for small innovation businesses. With NTU EMBA’s spirit of social innovation, this entrepreneur team is starting a new business for the team members themselves. Their goal is to help more start-up teams in Taiwan to make across the first hurdle of capital and to succeed in new business.
LendBand is based on a prototype called Haizih Go, a start-up planning inspired in the Entrepreneur Practice Program by Huang Wen-Ling (Class 2014) and other students. After pulling together a team, turning market problem into opportunity, and developing business model, this business pivot is put to is viability test.
According to Huang, she already has hands-on experience in web-based Fintech-P2P business before taking the Entrepreneur Practice Program. This Program helps her to learn about the procedure from scratch. In addition to the numerous entrepreneurs’ sharing session in classes, Mentor Jian Yuan-jin keeps weekly guidance and stay with the team to solve problems, helping LendBand core team to better describe its business blueprint. The knowledge learned from the Program is the strong backbone that makes possible the entrepreneur team to progress from concept development to operation in just one year.
Among the teams of NTU EMBA’s Entrepreneur Practice Program, LendBand is the first one that successfully raises fund and becomes operational. It is a P2P digital finance platform that dedicates to eliminate financial brokerage and credit review. After adjustments of team members, Huang and three other students, Tu Chuan-Fan, Liao Yi-Xiang, and Lin Yu-Cun, start the LendBand and proceed to pilot run since October 1 to be tested by the market.
In less than 2.5 months since the pilot run, it has recruited near 500 members with a capital size of TWD 3.7 million. LendBand called a press conference on December 12 to announce its full-scale operation. It symbolizes the coming of the new concept of P2P and infinite amazements in the market.
The former Executive Yuan Premier and former FSC Chairperson, Chen Chong, was present to encourage the entrepreneur team. The overall situation, including the competent authorities’ governance and regulation, is yet to catch up with the business pace, but Chen is amazed that LendBand would take the initiatives and properly address to risks and legality issues using its expertise and technology.
Xie Ming-Hui, CEO of NTU EMBA, expressed exuberance about the first company that comes out from NTU entrepreneur incubator; it is a response to her constant calling in class: this is more than a program; the entrepreneur team is for real. According to Xie, the second year of Entrepreneur Practice Program is open for application now, and she expects to see more start-ups to be incubated from NTU in the near future. She encourages EMBA students to apply their knowledge learned and fulfill the spirit of NTUers in the society.
Xie wishes that NTU EMBA to function as an incubator for entrepreneurs, starting from LendBand. Soon more start-ups form NTU EMBA will follow. She encourages and urges the students to fulfill the spirit of NTUers in the society.
The former Executive Yuan Premier, Chen Chong, was present to encourage LendBand. The overall situation is challenging, yet LendBand is able to take the initiatives against the odds and properly addresses to risks and legality issues using its expertise and technology, said Chen in admiration.
The former Executive Yuan Premier, Chen Chong; Xie Ming-Hui, CEO of NTU EMBA; LendBand GM Huang Wen-Ling at the opening ceremony of LendBand: a smart key to the treasure vault for the start-ups and society fulfillment.